Published Date: October 27, 2015
San Francisco & Bangalore – October 27, 2015: Infosys Finacle, part of EdgeVerve Systems, a product subsidiary of Infosys (NYSE: INFY), today announced that its Finacle Core Banking Solution running on an Oracle SuperCluster M7 has set a new record for the number of banking transactions processed.
In the test, which was observed and reviewed by the global advisory firm Ernst & Young, the solution supported more than 2.0 billion bank accounts with near linear scalability. The results showcase Finacle’s capabilities to manage extraordinarily large transaction volumes to help banks cater to their growing business demands at reduced costs.
The tests were conducted across a mix of delivery channel transactions that could originate from branches, ATMs, online and mobile channels. Finacle Core Banking version 11.1.2 was tested on Oracle SuperCluster M7, Oracle’s SPARC T7/M7 servers running Oracle Solaris 11.3 with Oracle Database 12c along with Oracle WebLogic 12c to determine its performance and scalability parameters. PCI DSS security compliance on Oracle Solaris 11.3 was carried out as reported by Oracle.(1)
Michael Reh, Executive Vice President, Infosys and CEO (designate), EdgeVerve:
“The test results confirm that the Finacle Core Banking Solution on an Oracle system offers banks the scalability required to manage spikes in current transaction volumes as well as the scalability banks require to profit from vast data volumes in the future.”
Ganesh Ramamurthy, Senior Vice President, Product Development, Oracle:
“Oracle’s SuperCluster M7 and SPARC T7 and M7 systems offer breakthrough technology for memory intrusion protection and encryption, with hardware acceleration for Oracle Database In-Memory – a combination that’s particularly powerful for banking and financial services. Infosys’ latest Finacle results on SuperCluster M7 demonstrate the superior performance, efficiency and security capabilities of SPARC M7 with Oracle Database 12c and WebLogic Server 12c for critical banking functions.”
Finacle is the industry-leading universal banking solution from EdgeVerve Systems, a wholly owned subsidiary of Infosys. The solution helps financial institutions develop deeper connections with stakeholders, power continuous innovation and accelerate growth in the digital world. Today, Finacle is the choice of banks across 84 countries and serves over 547 million customers – nearly 16.5 percent of the world’s adult banked population.
Finacle solutions address the core banking, e-banking, mobile banking, CRM, payments, treasury, origination, liquidity management, Islamic banking, wealth management, and analytics needs of financial institutions worldwide. Assessment of the top 1000 world banks reveals that banks powered by Finacle enjoy 50 percent higher returns on assets, 30 percent higher returns on capital, and 8.1 percent points lesser costs to income than others. To know more, visit www.finacle.com
EdgeVerve Systems, a wholly owned subsidiary of Infosys, develops innovative software products and offers them on-premise or as cloud-hosted business platforms. Our products help businesses develop deeper connections with stakeholders, power continuous innovation and accelerate growth in the digital world. We power our clients’ growth in rapidly evolving areas like banking, digital marketing, interactive commerce, distributive trade, credit servicing, customer service and enterprise buying.
Today EdgeVerve products are used by global corporations across financial services, insurance, retail and CPG, life sciences, manufacturing, and telecom. Finacle, our universal banking solution, is the choice of financial institutions across 84 countries and serves over 547 million customers – nearly 16.5 percent of the world’s adult banked population. To know more, visit www.edgeverve.com
Certain statements in this press release concerning our future growth prospects are forward-looking statements regarding our future business expectations intended to qualify for the ‘safe harbor’ under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in the United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2015. These filings are available at www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company’s filings with the Securities and Exchange Commission and our reports to shareholders. Any forward-looking statements contained herein are based on assumptions that we believe to be reasonable as of this date. The company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the company unless it is required by law.